If you mean favourite threads, why not subscribe to them, by clicking that button (or adding a reply, which subscribes automatically)?
They will then appear on your MyATS page as long as they keep getting replies, and can still be seen on your Tools page after that.
If you mean favourite people, you can "friend" them, and their most recent threads will appear on the "Friends" page of your Profile.

The page it takes you to, there is another tab that says subscriptions, that will take you to all the threads you've subscribed to i the last six
months or so. At least mine goes back six months, yours may be farther back, depending on how many thread you've replied or subscribed too.

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